​GOOD MORNING INDIA!

DAILY NEWS UPDATES ON ENERGY AND INFRASTRUCTURE

EDITOR’s PICK

In order to provide a new lease of life to 31,000 mega watt (MW) of stranded power capacity in the country---entailing an investment of Rs 1.5 lakh crore, the Centre on Friday approved amendments in the Mega Power Policy.

POWER/COAL/MINES/RE

Ratnagiri Gas and Power Projects Ltd (RGPPL) (or the erstwhile Dabhol Power Project) in Maharashtra has started supply 500 mw power to Railways, thanks to an agreement it signed recently with Railways for supply of 500 MW power to Railways at fixed price for five years starting from midnight of 31st March.

There is no shortage of power and India's generation resource is adequate to meet the country's power demand during this summer season, provided states buy enough power which is available, senior power ministry officials said after a high level review on Friday.

Union Power Minister Piyush Goyal on Thursday said as much as 39,710 MW capacity based on supercritical technology has already been added and 48,060 MW of super-critical power generation is in the pipeline.

State-run Bharat Heavy Electricals Ltd (BHEL) is planning to enter the aerospace sector and plans to collaborate with Indian Space Research Organization (ISRO) for manufacturing space grade solar cells and partner for satellite launches.

OIL AND GAS

Thanks to the fall in global oil prices, state-owned domestic fuel retailers cut petrol and diesel prices by Rs 3.77 per litre and Rs 2.91 a litre respectively, the first change in rates in two-and-a-half months.

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 51.36 per barrel (bbl) on 30.03.2017.

Oil prices eased on Friday as traders took profits following three days of straight gains on the expectation that an OPEC-led crude supply cut that was initially supposed to only last for the first half of the year would be extended.

The auto industry may have blamed fuel companies for its large BS III inventory saying poor availability of BS IV fuel slowed down transition, oil companies claimed they have been supplying BS IV fuel to cover countrywide requirements for a month now.

Russia’s Gazprom Neft and India’s ONGC Videsh Ltd. have signed a memorandum of understanding (MoU) to cooperate in offshore oil projects in Russia and other parts of the world, the companies said in a press release on March 30.

China's CNOOC Ltd has agreed to team up with Australian minnow FAR Ltd to look for oil and gas prospects in what is seen as a promising frontier off Senegal and Gambia over the next two years, FAR said on Friday.

INFRASTRUCTURE

The Cabinet on Friday approved the Motor Vehicle (Amendment) Bill 2016 that provides for linking of driving license and vehicle registration with Adhaar-based platform and proposes heavy penalties for traffic violations.

The Railways has achieved freight loading of 92.07 million tonnes during the month of February, which was an increase of 3.46 per cent over the last year and was the highest ever monthly loading for February, Railway Minister Suresh Prabhu said today.

Railway minister Suresh Prabhu on Thursday informed the Rajya Sabha that the government will spend Rs 10,000 crore to modernise railway infrastructure, including technology to reduce accident rate to zero level.